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Found 11 results

  1. http://www.mycarforum.com/index.php?showtopic=2651430 Continue here
  2. http://www.tremeritus.com/2014/03/09/josephine-teo-gic-temasek-wont-take-more-risks/ Josephine Teo: GIC, Temasek won’t take more risks March 9th, 2014 | Author: Editorial Josephine Teo In Parliament on Friday (7 Mar), Senior Minister of State for Finance Josephine Teo said that any rise in Singapore’s spending needs over time should not drive GIC and Temasek to take on more risks. The solution lies in the government’s budgetary measures, rather than a change in these entities’ investment strategies, she told the House. Under the current Net Investment Returns (NIR) framework, the government can tap up to 50% of the long-term expected real return from the net assets managed by GIC and the MAS for its budgetary spending, GIC and Temasek “must continue to invest with the aim of achieving good, risk-adjusted returns over the long term”, which they have achieved so far, she said. Ms Teo was responding to Ang Mo Kio GRC MP Inderjit Singh, who was concerned that the government may be spending too much from its investment returns. Even so, some of GIC and Temasek’s investment losses in recent years appear to suggest that both entities may have been taking a lot more risk than Ms Teo is willing to admit. GIC In late 2007, GIC invested a massive 11 billion Swiss francs (then S$14 billion) – GIC’s largest investment ever – for a major stake in UBS [Link]. According to Reuters, GIC’s investment in UBS was later converted to UBS shares at 47.7 Swiss francs, making GIC the largest shareholder of UBS at 6.6% of equity [Link]. Based on Friday’s (7 Mar) closing price for UBS shares of 18.63 Swiss francs, GIC has lost some 61% or S$8.5 billion. UBS share price in Swiss francs (CHF): In its defence, GIC says on its website [Link]: For UBS, as we said in late 2008, our timing could have been better and the investment is still finding its footing. GIC’s view of UBS’ fundamental strength as a well-capitalised bank with a strong private wealth management franchise remains unchanged. GIC manages risk by investing in a well-diversified portfolio, with a balanced distribution of asset classes and their underlying business sectors and geographies. This, too, is why GIC’s performance has to be measured on the basis of its overall portfolio rather than by how much it makes or loses on individual investments. In 2006, at the height of the US real estate bubble, GIC made a US$675 million investment – comprising US$100 million in equity and US$575 million in loans – in the Stuyvesant Town/Peter Cooper Village complex in Manhatten, New York. The management of the complex, Tishman Speyer Properties and BlackRock Realty, defaulted on their loan in 2010. GIC then booked a loss on the US$675 million investment, as reported by Reuters [Link]. Reuters said, “GIC did not disclose its exposure or say how much it wrote off, although court documents indicate the Singapore fund held $100 million of equity and $575 million in mezzanine debt issued by the owner of the Stuyvesant Town/Peter Cooper Village complex in Manhatten.” Temasek Holdings What about Temasek? Let us see how Temasek made some of its investments. In May 2007, Temasek bought 55 million shares of ABC Learning at A$7.30 a share for a 12% stake. The investment cost Temasek A$402 million. As the share price fell in early 2008, it bought more shares and increased its stake to 14.7%, making it the second largest shareholder in ABC Learning [Link]. Then a series of events happened: An unexpected drop of 42 per cent in profit in the second half of 2007 to $37.1 million and its inability to service its $1.8 billion debt triggered a decline in the company’s share price. Several directors of the company were forced to dump millions of shares after receiving margin calls in February 2008 [Link]. In August 2008, shares of ABC Learning were halted from trade when the company failed to release its latest earnings [Link]. In November 2008, the company went into receivership. An estimated A$850 million was owed to its banks. Shareholders would not receive anything, the Sydney Morning Herald reported [Link]. By April 2009, it was announced that some of the ABC Learning centres were sold to charity, Mission Australia, for $1 each [Link]. Mission Australia spokesman Paul Andrews told the Australian media, “We got a really fantastic deal.” In less than 1.5 years from the day Temasek invested in ABC Learning, it was game-over for Temasek. In May 2009, Financial Times (FT) reported [Link] that Temasek had pulled out of its investment in Bank of America, selling its 3.8 per cent stake in the US group. Temasek is estimated to have lost at least US$2 billion on an investment foray that began with it taking a stake in Merrill Lynch in December 2007 for US$5 billion. The Merrill Lynch shares were later converted to Bank of America shares after Merrill Lynch merged with Bank of America. Temasek did not disclose when it disposed of the Bank of America stake or at what price, FT said. Are GIC and Temasek already taking a lot more risk than Josephine Teo has assured the House? What do you think?
  3. Hi, i am a newbie in investment. Are there any SGS right now which i can invest and will give a coupon rate of > 3% with maturity in 2 years? Thanks in advance for all advises.
  4. Hi Guys, Have anyone traded with lim and tan securities? Tot of using them to trade. from - http://www.eq.com.sg/
  5. Hi MCF members! SGX has an upcoming free admission event on Saturday 26 November, 10 AM - 1 PM SGX Market Outlook 2017: Finding Income and Managing Risk Forum More info: http://notice.shareinvestor.com/email/20161126_sgx/index.html This is an interesting event as the current financial market is highly volatile. Many of your may want to hear and learn the various ways to manage risk and earn a decent income from investment in 2017. Click here to register. First 100 to arrive early for registration with receive a mystery gift!
  6. Recently saw this very new stock... Went to recee abit. . . Polaris Ltd., formerly CarrierNet Global Ltd., a holding company. The Company is engaged in active in the distribution and retail of mobile phones, consumer electronics, and related services and accessories. The Company’s business consists of four subsidiaries, of which three are wholly owned and one is a joint venture: Polaris Device Pte. Ltd., which is regional mobile handset distributor; Polaris Network Pte. Ltd., which is a M1 distributor with a network of M1 retail shops in Singapore offering mobile handsets and services; Polaris Telecom Pte. Ltd., which is a SingTel distributor with a network of SingTel retail shops in Singapore offering mobile handsets and services, and Polaris KKC Holdings Pte. Ltd. (70%:30% joint venture between Polaris Ltd. and Koko Capital Ventures Ltd), which operates a network of e-city retail shops in Myanmar offering mobile phones, tablet computers and related accessories. In March 2014, it announced that it has incorporated Polaris Digimedia Pte. Ltd. https://www.google.com/finance?q=SGX:5BI Think can buy and keep?
  7. Dear All My dad last time had used his cpf to buy Sbs transit share using cpf only. The previlige is that he is able to buy the bus stamp which he likes.. Ill fate has fallen upon him and now he is literally deaf in both ears.... cause of that he cant really hold permanent job and he is due to get his money from cpf which is not that much soon...now he wants to sell half of it and i have been calling cpf... and up to now i was asked to call here n there... may i know if any1 here has any contacts or know how to sell...but he wants to sell only half cause he still wanna keep some so he can still buy the bus stamp.... will they still allow him to buy if he sells half of his share
  8. trans-cab cancels IPO after being told not enough subscribers ? wayang say insurance hike ?
  9. Share traders calling it a day as market volume dries up Average net commission on the decline, slumping to about S$1,000 from around S$6,000 to S$8,000 a decade ago By Kenneth Lim kenlim@sph.com.sg 23 Oct5:50 AM Singapore KISHORE Rochey was a trading representative for 20 years before calling it quits in September this year. He said that the average net commission earned by his peers has been on the decline, with through-the-grapevine estimates falling from around S$6,000 to S$8,000 a decade ago to about S$1,000 when he left. "It made no sense to stay around." Mr Rochey's story is not unique. Market liquidity in Singapore is at a multi-year low, commissions are suffering and many in the industry are either looking for other sources of income or simply moving on. While many in the industry acknowledge macroeconomic effects in the market, they also blame regulations that have raised the costs for speculative traders and cut spreads and commissions for trading representatives. In response, Singapore Exchange (SGX) stressed that it cannot jeopardise long-term market quality for short-term liquidity droughts, and noted that it has taken several initiatives aimed at helping the industry. The numbers do not paint a pretty picture. Market turnover fell 21 per cent in the financial year ended June 30, 2014, to S$286 billion, according to SGX. That is the lowest turnover since fiscal 2006, when the size of the total market was less than what it is worth today. Looking at turnover as a proportion of market capitalisation, the average turnover velocity in FY2014 was just 40 per cent, compared to 71 per cent back in FY2007 (view infographic). UOB-Kay Hian Holdings posted a 31.8 per cent decrease in first-half commission income this year, to S$113 million. DBS Group Holdings' brokerage income for the first half of 2014 fell 29 per cent to S$85 million. OCBC Bank matched DBS's decline, with brokerage income dropping to S$26 million. An executive at a brokerage who deals with remisiers said that the number of trading representatives in Singapore has fallen to about 3,900 in 2013 from more than 4,300 in 2011. Jimmy Ho, president of the Society of Remisiers of Singapore, remarked: "I quote one remisier who's been in the industry for over 40 years, and he said it's never been like this before." Those who are still in the game are looking for other ways to make a buck. Mr Rochey noted that some brokerages are encouraging their remisiers to help refer their clients to specialists of other products and asset classes such as contracts for difference and forex. "But at the end of the day, when the commissions are so low . . . there's just not enough meat," Mr Rochey said. A trader who has since moved to another part of the desk said that investors are also looking to overseas markets for more action. Emerging markets such as Thailand, for example, offer more inefficiencies that investors are better able to capture, he said. "You have to look to where the money is," the trader said. "Thailand, Hong Kong, Indonesia, even the US, where the volatility is there. If you're talking about money flow, in South-east Asia, you don't have to look that far beyond Thailand and Indonesia." Industry veterans cited a number of factors for the industry's current woes. The first, and most obvious, is that equity trading volumes across the world have not been great ever since the Global Financial Crisis. "From 2009 until now, the market has gone out, so people don't have the courage to come in big time," Mr Rochey said. "You need a whole new breed of investors to come in and create the volume, who didn't experience the pain of 2008 and 2009. That will take a decade." Singapore has been hit especially hard because of the penny stock collapse that began in October 2013 and continues to weigh on small and mid-cap counters. But the industry said that regulations, some of which were in response to the penny meltdown, have made it hard for the market to recover from that hit. The trading executive said that SGX's removal of its S$600 clearing-fee cap in June has crimped large-volume day trades. "Now the clearing fee has no cap, so it's very expensive for them to trade," the executive said. "Low liquidity and volumes mean it's also hard for them to trade more, and the bid-ask size is smaller now, so for them to make money from day trading is very hard." Mr Ho said that proposed rule changes such as the shortening of the settlement period to two days from three days and the requirement for brokerages to collect collateral will suppress the liquidity provided by contra trading. Contra trading refers to the practice of taking and unwinding positions without collateral within the settlement period. "If you ask for margin, that's operating like a bank," Mr Ho said. "Any exchange doesn't operate this way, because any exchange must combine the speculative and fundamental elements. If you take out the speculative element, the market won't function." But SGX is adamant that some of those rules being complained about actually improve market quality, and changing them to address what it views as a short-term liquidity downturn would be myopic. "Yes, from an exchange perspective and from my perspective, I'd like to have higher turnover," chief executive Magnus Bocker said. "But the question is, I'm here to long-term service the investors, I'm here to protect the retail investors and the institutional investors, I'm here to protect the integrity of the market, I'm here to support that we can raise money for companies." Mr Bocker also argued that although liquidity is thin at the moment, other aspects of the market, such as ease of capital raising for issuers and the costs for investors are still robust. Programmes that incentivise market makers and liquidity providers are also showing early success. "If you go back and say it's not so good, I would say the three important functions of the equity market work well," Mr Bocker said. Mr Rochey, who said that he now makes more as a private investor, felt that brokerages should also be more aggressive in incentivising volumes. Graduated takes of commissions, where a remisier's share of commissions is stepped up if the remisier's volume crosses a threshold, should be utilised more, he said. "If the broking houses want to revive the industry . . . share more of the profit." The trader said that the market situation is unlikely to improve for the rest of the year. "In two weeks' time, we're into the month of November, and for the European and US funds, this is fund closure time for them . . . The market will get quieter."* http://www.businesstimes.com.sg/stocks/share-traders-calling-it-a-day-as-market-volume-dries-up#xtor=CS1-5
  10. So good huh Read here: http://unbrandedbreadnbutter.wordpress.com...he-wrong-track/ SMRT’s Dividend Policy SMRT has a policy that guides it to distribute at least 60% of their profits as dividends. In fact, it has consistently (since 2006) distributed about 75% or more of their profits. For example, in 2010, it earned 10.7c per share and distributed 8.5c as dividend, amounting to almost an 80% distribution of its profits. Hence, if SMRT consistently distributes most of its profits back to its shareholders, how much does it have to to competently maintain, renew, reinvest and innovate on its operations?? Does it then go against the whole purpose of why it was privatised in the first place? In the years when Singapore’s population was booming due to immigration policies, why didn’t SMRT retain and reinvest more of its profits rather than continue to distribute high dividends (and continue to stress the rail systems)??
  11. Hi all as above i personally feel that if Europe debt,China Property Bubble and the just annouce jump of 9.9% Jobless rate in the US....Just imagine all this happening together? I personally feel that its time to get out if not be ready to lose ur Shirt!!! My 2 cents
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